Small Business Investment Grant Fund; administration, qualifications. (SB179)

Introduced By

Sen. Louise Lucas (D-Portsmouth)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Small Business Investment Grant Fund; administration; qualifications. Changes the administration of the Small Business Investment Grant Fund from the Department of Small Business and Supplier Diversity to the Virginia Small Business Financing Authority. The bill also changes the eligibility of businesses to receive a grant from the fund by (i) removing the requirement that a business be certified as a small business by the Department, (ii) limiting the total grant allocation from the Fund to $250,000 per eligible investor, and (iii) extending the period during which an eligible investor can make a qualified investment in a small business from January 1, 2015, to January 1, 2019. Read the Bill »

Status

03/29/2016: signed by governor

History

DateAction
01/04/2016Prefiled and ordered printed; offered 01/13/16 16100998D
01/04/2016Referred to Committee on General Laws and Technology
01/18/2016Impact statement from DPB (SB179)
01/18/2016Reported from General Laws and Technology (11-Y 1-N 3-A) (see vote tally)
01/20/2016Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/21/2016Read second time and engrossed
01/25/2016Read third time and passed Senate (34-Y 5-N) (see vote tally)
02/03/2016Placed on Calendar
02/03/2016Read first time
02/03/2016Referred to Committee on General Laws
02/17/2016Assigned GL sub: Subcommittee #2
02/18/2016Subcommittee recommends reporting (6-Y 0-N)
02/23/2016Reported from General Laws (22-Y 0-N) (see vote tally)
02/23/2016Referred to Committee on Appropriations
02/24/2016Assigned App. sub: Commerce, Agriculture, Natural Resources and Technology
02/29/2016Subcommittee recommends reporting (7-Y 0-N)
02/29/2016Reported from Appropriations (21-Y 0-N) (see vote tally)
03/02/2016Read second time
03/03/2016Read third time
03/03/2016Passed House (95-Y 2-N 1-A)
03/03/2016VOTE: PASSAGE (95-Y 2-N 1-A) (see vote tally)
03/04/2016Enrolled
03/04/2016Bill text as passed Senate and House (SB179ER)
03/04/2016Impact statement from DPB (SB179ER)
03/04/2016Signed by Speaker
03/07/2016Signed by President
03/08/2016G Governor's Action Deadline Midnight, Monday, April 11, 2016
03/08/2016Enrolled Bill Communicated to Governor on 3/8/2016
03/08/2016G Governor's Action Deadline Midnight, Sunday, April 10, 2016
03/29/2016G Approved by Governor-Chapter 520 (effective 7/1/16)
03/29/2016G Acts of Assembly Chapter text (CHAP0520)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 25 seconds.

Transcript

This is a transcript of the video clips in which this bill is discussed.

CONSTITUTION OF VIRGINIA, I DID VEST HIM OF AUTHORITY HE'S BEEN DAEGTED BY THE -- DELEGATED BY THE FEDERAL GOVERNMENT AND TAKE AWAY FROM THOSE THAT ARE IN THE BEST POSITION TO MAKE THESE DECISIONS AND PUT IT IN THE HANDS OF AN UNWIELDY 140-BODY THAT CAN CANNOT POSSIBLY COME UP WITH THE KINDS OF DETAILED PLANS THAT ARE REQUIRED. IT WOULD POLITICIZE THE PROCESS UNDULY AND MR. PRESIDENT, I WOULD LOPE WE VOTE RED IN THIS CASE. THANK YOU, MR. PRESIDENT.

Duplicate Bills

The following bills are identical to this one: SB319.